Work group seeks to resolve problems with Alabama’s homeowners insurance market

Alabama homeowners insurance

Alabama continues to struggle with the impact of Hurricane Katrina Many homeowners in Alabama are still struggling to recover from the impact of Hurricane Katrina, some 10 years after the disaster struck. These consumers are facing higher homeowners insurance premiums, as insurers have had to raise rates in order to recover from financial losses associated with Hurricane Katrina. In order to resolve this issue, a new organization has been formed that will seek out a solution to costly homeowners insurance coverage for those living in coastal communities. New work group…

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Coastal home insurance costs rising in Massachusetts

coastal home insurance

This situation is starting to cause concern for officials in the state, where sea levels are a growing problem. Property owners along the seaside and riverside in the state are facing a double level of concern regarding the rising sea levels and the cost of coastal home insurance that is going along with it. The damage caused by Superstorm Sandy is being used as an example of what Massachusetts could one day see. Although the majority of the damage along the coastline was to New York City and New Jersey,…

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Alabama Governor erects new panel to investigate the state’s shaken insurance market

A new panel has been set up in Alabama by Governor Robert Bentley comprised of 24 of the state’s insurance and business officials as well as several regulatory figures. The panel is tasked with investigating the state’s insurance market in the wake of deadly tornadoes that ravaged the state, along with its neighbors, two months ago. The original intent of the panel was to focus their investigation to coastal areas, spurred by the forecasts of a tumultuous hurricane season. The effort has been expanded, however, to account for the toll…

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